Sold STC on Rightmove: What Buyers and Sellers Need to Know

What Does "Sold STC" Mean on Rightmove?

On Rightmove and other property platforms, "Sold STC" stands for "Sold Subject to Contract". This term indicates that an offer has been accepted by the seller, but the sale has not yet been legally finalized. Here's a detailed breakdown:

Key Points About "Sold STC":

1. Offer Accepted:
   The seller has agreed to a buyer's offer on the property.

2. Subject to Contract:
   The sale is conditional on the completion of legal checks, contract signing, and other formalities.

3. Still Part of the Process:
   While "Sold STC" shows progress, the property is not officially sold until:

   • Contracts are exchanged.
   • The buyer transfers the deposit and completes the purchase.

4. Property Still Visible:
   Properties marked as "Sold STC" remain visible on Rightmove as part of transparency, allowing other potential buyers to see the status.

Can the Sale Fall Through?

Yes, because "Sold STC" is not legally binding. Common reasons for sales falling through include:

• Issues uncovered during surveys (e.g., structural problems).
• Financial issues, such as the buyer being unable to secure a mortgage.
• Gazumping, where another buyer makes a higher offer and the seller accepts it.

Should You Still Enquire About "Sold STC" Properties?

If you’re interested in a "Sold STC" property, it’s worth contacting the agent. Here’s why:

• The sale could fall through, and you could be next in line.
• Some sellers accept backup offers in case the current buyer withdraws.

Understanding "Sold STC" helps you navigate the property market more effectively, whether you’re buying or selling. For professional guidance on buying or selling property, contact Fraser Bond today. We’re here to support you every step of the way.